{"id":99442,"date":"2015-09-26T00:05:40","date_gmt":"2015-09-25T22:05:40","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=99442"},"modified":"2015-09-26T13:01:41","modified_gmt":"2015-09-26T11:01:41","slug":"this-yacht-is-worth-r5-5-billion","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/wealth\/99442\/this-yacht-is-worth-r5-5-billion\/","title":{"rendered":"This yacht is worth R5.5 billion"},"content":{"rendered":"

What do you do when you get bored with\u00a0your R4 billion yacht? You upgrade, of course.<\/p>\n

This is what Russian billionaire Andrey Igorevich Melnichenko has decided to do in building the Sailing Yacht A – a three-mast monstrosity that is now the biggest yacht in the world.<\/p>\n

The ‘boat’ measures just under 143 meteres in length, with its three masts stretching over 120 metres high – quite a jump from the billionaire’s last vessel, which was ‘only’ 120 metres long.<\/p>\n

This makes the Sailing Yacht A taller than London’s Big Ben, and longer than a Boeing 747 – all that space for 20 guests and a crew of 54 – and all for just $400 million (R5.5 billion).<\/p>\n

The 8-deck yacht will cruise at around 30 kilometers per hour, with a top speed of 40 kph. It was designed by Frenchman Philippe Starck and built by German Naval Yards, Nobiskrug.<\/p>\n

\"Sailing<\/a>

Sailing Yacht A<\/p><\/div>\n

\"Sailing<\/a>

Sailing Yacht A<\/p><\/div>\n

According to Forbes, Melnichenko is worth over $8.5 billion, and is the 137th richest man on the planet.<\/p>\n

He is a founder of Russia’s MDM Bank, and has massive stakes in a number of industrial companies, including Eurochem, Suek and SGK.<\/p>\n

The ship has been descriped as a “monument to invention” and features high-tech gadgetry and high luxury. The interior reportedly cost at least R210,000 per sqare metre to outfit.<\/p>\n

The costs do not stop at the build, however.<\/p>\n

According to the Daily Mail, insurers estimate that as much as 10% of the initial value of the yacht can go into operating costs.<\/p>\n

This includes about R5.6 million on fuel a year; docking fees (R4.9 million); insurance (R3.3 million); staff costs (R19.5 million) and maintenance (R19.9 million) costs.<\/p>\n